Private equity firm Carlyle Group CYL.UL is in talks to buy drug research services provider Pharmaceutical Product Development Inc (PPDI.O
), a source familiar with the matter said on Monday. Bloomberg earlier reported the news.
The company said in July its board had asked management to review its strategic plan. PPD could fetch around $4 billion, or about $35-$37 a share, industry analysts said at the time.
PPD, which mostly provides late-stage drug research services to drugmakers, has a market capitalization of $3.03 billion. Its stock closed at $31.51, up $4.91 on Monday.
